For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Maruti SX4 & Toyota Altis to attract lower excise duty than SUVs: CBEC

By Religare
|

In a clarification, Revenue Department said that Maruti SX4 and Toyota Corolla Altis will attract lower excise duty of 27 per cent and not the higher levy prescribed for SUVs.

"...it is clarified that the afore-cited motor vehicles (Maruti SX4, Honda Civic and Toyota Corolla Altis), which are known as sedans, will attract the excise duty of 27 per cent as applicable to large segment cars", Central Board of Excise and Customs (CBEC) said in a circular.

 

Finance Minister P Chidambaram in his Budget speech had said: "SUVs occupy greater road and parking space and ought to bear a higher tax. I propose to increase the excise duty on SUVs from 27 percent to 30 percent. However, the increase will not apply to SUVs registered as taxis."

Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more